Magin Energy-MGY on TSE Message Board

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Gold/Mining/Energy : Magin Energy-MGY on TSE

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To: Bearcatbob who wrote (20)	2/25/2000 9:20:00 PM
From: kingfisher	Read Replies (1) of 92

I do hope management renew normal course issuer bid and get a tad more aggressive in buying back their own shares. To date only 100,000 shares out of 36 million in past year.They should budget 10% of cash flow towards buying back stock in fiscal 2000.Their current proven and probable reserves are much cheaper to buy than to go out and drill. If you look at todays news on Newport,they announced net asset value of $5.17 per share and stock shot up from $3.30 towards $3.90 on news of pursuit of strategic alternatives to enhance shareholder value. Magin has $5.07 in net assets and this is without Copton assets and stock drops today towards $2.10! Hard to figure this market. Best Regards, R.B.

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